French President-designate of the European Central Lender (ECB) Christine Lagarde reacts throughout a assembly prior’s to go to a European Parliament’s Committee on Financial Affairs at the EU Parliament, in Brussels, on September 4, 2019.
JOHN THYS | AFP | Getty Photos
The European Central Financial institution determined Thursday not to slash fascination prices, in spite of market expectations for a reduction amid the ongoing coronavirus outbreak.
The central financial institution did announce steps to assistance lender lending, and expanded its quantitative easing (QE) application by 120 billion euros ($135.28 billion).
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ECB President Christine Lagarde claimed before this thirty day period that the financial institution was “all set to consider proper and focused measures” to offer with the economic effect from the virus.
The coronavirus, which commenced in China at the conclude of 2019, has distribute around the globe. There are far more than 127,000 confirmed conditions globally, according to knowledge from Johns Hopkins College. Italy, a single of the most important economies in the euro place, has the best quantity of instances outdoors China and has implemented a nationwide lockdown.
The ECB’s announcement arrives after each the Federal Reserve and the Lender of England announced stimulus measures in response to the outbreak.